Market Trends of Global Network Video Recorder Industry
This section covers the major market trends shaping the Network Video Recorder Market according to our research experts:
Increasing Adoption across Various End-User Industries is expected to drive market growth
- Network video recorders are finding applications in several end-user industries like transportation, defense, healthcare, etc. They are installed in government buildings, hospitals, military bases, and numerous other buildings to enhance security.
- The transportation sector has made the value of video-based surveillance solutions glaringly clear. With the advent of AI, cameras have been changed from a common monitoring tool to one that may enable this business to prevent accidents. When used with information and communication technology (ICT), video equipment can help control traffic more effectively, deal with violations more quickly, lower accident rates, and increase compliance. These systems offer comprehensive vehicle identification by reading license plates, categorizing them into groups, and calculating their speed. They also provide sophisticated traffic monitoring. Additionally, it enables the detection of unusual circumstances like traffic jams and unexpected roadblocks.
- In May 2022, Tamil Nadu Chief Minister M K Stalin launched an Artificial Intelligence (AI)-enabled panic button-cum-CCTV surveillance project in 500 Chennai buses as part of an initiative to improve women's safety and children. The state transport department has planned to provide this facility in about 2,500 buses under the Nirbhaya safe city project, and in the first phase, 500 buses in the metro city have been provided with four panic buttons, AI-enabled Mobile Network Video Recorder (MNVR) and three cameras each, respectively. The MNVR would be connected to a cloud-based control center via a 4G GSM SIM card. In case of any inconvenience or threat caused by fellow passengers while traveling, the women passengers could press the panic button to record the incident. While doing so, an alarm (bell) would be raised at the control center, along with a video recording of the incident on the bus. With this alarm, the operator at the control center would monitor the situation and facilitate, in real-time, the next course of action.
- In June 2022, the Delhi government started the second phase of its project to install 280,000 CCTV cameras across the national capital. The government is also setting up Wi-Fi networks and around 35,000 Wi-Fi routers, which will be installed along with cameras in the second phase. For every four cameras, there would be a utility box with an NVR (network video recorder), a Wi-Fi router, a UPS for power backup lasting an hour, and a SIM card to locate the cameras and for network connectivity. The project is being carried out by the government's public works department (PWD). One resident welfare association member, PWD officials, Delhi Police, and a representative of the company that is installing and maintaining the cameras would be allowed access to the live camera feed for enhanced security.
- Several companies are providing different products for the transportation sector to meet evolving consumer demands. For example, Idis developed a ruggedized mobile network video recorder (NVR) for usage in public transportation and other situations where interior and exterior vehicle activity need to be reliably and highly resolved recorded. The DR-6308PM and DR-6361PSM versions also eliminate the issue of noise and variable image quality that can plague standard recording devices in difficult, mobile circumstances due to their robust, anti-shock, and anti-vibration design (U.S. military MIL-STD-810 approved).
- Further, most hospital and healthcare security systems include video as a key component. The usage of higher-megapixel cameras, 180-degree and 360-degree view cameras, and the growing integration of video with other systems are a few of the major video developments. The NVR systems are complimenting the healthcare infrastructure in recent times. For instance, the University of Arizona Medical Center - South Campus (UAMC South Campus), an of Pelco, a video surveillance firm, when adding a new behavioral health hospital tower, sought to migrate and expand its analog video surveillance system to an IP system that would allow the capabilities of multisite monitoring. Using Pelco'sEndura IP video management system (VMS) with NSM5200 network video recorders, the hospital system could centralize all videos onto a single platform while allowing several operators to look for and view videos simultaneously of daily events. In addition, more than 150 Sarix and Sarix with SureVision technology IP cameras were deployed throughout the new tower, emergency room, and most entrances and exits.
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The Asia Pacific Region is Expected to Witness Significant Market Growth
- Rising infrastructure developments and smart city projects across the Asia Pacific are anticipated to drive market growth. Also, the increasing investments by various governments in smart city projects will likely provide lucrative opportunities for market players.
- For instance, the Indian government's ambitious Smart City Mission was introduced in 2015 to create 100 smart cities that can serve as replicable models for other communities in terms of their basic infrastructure and healthy, sustainable environments. The mission's initiatives are completed more quickly than any other government program. The government said that all Smart City Mission projects it has supported would be finished by the end of 2023. Smart Cities Mission, launched on 25th June 2015, envisaged a total investment of INR 2,05,018 crore.
- Further, in November 2021, a group of architects revealed their plans for an ambitious neighborhood in South Korea's capital, Seoul: a 10-minute city. Dubbed "Project H1," the development is set to transform an old industrial site into an interconnected "smart" city. Combining eight residential buildings with co-working offices and study spaces, the 125-acre district is set to house entertainment venues, fitness centers, swimming pools, and even hydroponic urban farms.
- The market for NVR systems in the APAC region is anticipated to benefit from the rising retail sector. For Instance, according to the Singapore Department of Statistics, retail sales climbed 12.1% year over year in April 2022, continuing the 8.8% year over year growth in March 2022. Retail sales increased 17.4% when motor vehicles were excluded, compared to 13.6% in March 2022.
- Network video recording systems will remain in demand as more showrooms and retail establishments implement high-tech vision surveillance systems. Long-term benefits are anticipated for NVR makers as NVRs increasingly replace traditional DVRs in surveillance applications. The installation of NVR systems resolves problems with image quality, resolution, and the caliber of nighttime footage.
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